TMI Blog2020 (7) TMI 730X X X X Extracts X X X X X X X X Extracts X X X X ..... at the deduction u/s 10B is to be allowed while computing the gross total income of the eligible undertaking under Chapter -IV of the Income Tax Act? - unabsorbed depreciation loss of Section 10B unit cannot be set off against other incomes - HELD THAT:- Issue involved in this appeal is covered by the decision in the assessee's own case in [ 2020 (3) TMI 814 - MADRAS HIGH COURT] by which, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9;C' Bench (for brevity, the Tribunal) for the assessment year 2003-04. 3. The appeal has been admitted on 08.7.2019 on the following substantial questions of law : 1. Whether the set off of brought forward unabsorbed depreciation of the Assessment year 2001-02 and 2002-03 are to be first set off before considering deduction under Section 10B for the assessment year 2003-04? 2. Wheth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... It is submitted by the learned counsel on either side that the issue involved in this appeal is covered by the decision in the assessee's own case in TCA.No.228 of 2011 dated 18.3.2020, by which, the assessee's appeal was allowed and the substantial questions of law were answered in favour of the assessee. 5. Following the said decision, the above tax case appeal filed by the Revenue is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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